Swidex - Decentralized Application Trading Platform On Ethereum Protocol Technology

Lately, exchange sites are increasingly in demand. New technologies are increasingly emerging with their respective ideas and innovations. Cryptocurrency exchange is now very popular among many people, both professionals and ordinary people. As with the cryptocurrency exchange industry, there are currently more than tens and even hundreds of cryptocurrency exchange sites that have been widely used by citizens of the world. This is due to the vastness of business opportunities that are now so evenly distributed that a platform is also needed that can make it easier for us to transact, be it exchanging to circulating paper currencies or other cryptocurrency through the exchange site platform.

Among several exchange site projects, this time decentralization also has its own place for its users. Present with several advantages over generally centralized exchange sites, some technology activists are now focusing on developing this system with decentralization. This time I was interested in discussing the Swidex project, which was recently IEO on one of the exchange sites for SWDX token. For more details, I will discuss below for this project.

WHAT IS SWIDEX ?

SWIDEX BUILT ON ETHEREUM PROTOCOL
Swidex is a tokenized decentralized application that will be built on Ethereum protocol. It aims to provide a completely decentralized exchange that is eco-friendly, fast and secured for P2P digital assets trading.
Ethereum Blockchain is adopted because Ethereum was one of the early cryptocurrency that emerged in Blockchain industry. Hence, most developers are familiar with the programming language, Solidity and more than 50percent of digital assets operate on Ethereum Blockchain either as main Blockchain or initial Blockchain before mainnet launch.
Therefore, Swidex advances a wide coverage of digital assets and provides a decentralized trading platform.

THE PROBLEM

CENTRALIZED EXCHANGES (CEX)
Centralized exchanges are the most common and early trading platforms adopted by majority of users in the cryptocurrency industry. They are centralized, act as intermediaries between traders with several rules of who, what, and when to trade. Wallet addresses are provided for users to deposit digital assets and in turn, they offer virtual digital assets on the trading platform for users to trade. The user’s funds, assets are majorly stored in a central wallet; it is owned, controlled and managed by a central administrator.

LIMITATIONS & PROBLEMS OF CENTRALIZED EXCHANGES

Since centralized exchanges are controlled and managed by a central administrator, several inherent problems are associated with the use of CEX.
There are numerous stories of users’ accounts frozen or depleted without genuine explanation or reasons. More so, numerous security breaches have been reported in millions of dollars leading to tremendous loss of users’ assets, and eventual shutdown of the exchange. Recently, a notable CEX, Cryptopia had a security breach and reportedly suffered huge loss leading to its eventual shut down. In addition, cases have been recorded where users of a reputable exchange were denied access to their funds as a result of death of founder of the exchange holding private keys to wallets containing users’ funds and assets.

COMPARISM BETWEEN CENTRALIZED & DECENTRALIZED
EXCHANGES

The Difference between Centralization & Decentralization
Exchange as illustrated below, that the advantages of Decentralization Exchange in this respect are superior because several factors for the user are very important to maintain security from various aspects.

ROADMAP

As we know, this is an important part that must be known how this project will work. I think this project is quite mature with the offer of dividends, airdrops and technology advancements. The roadmap below reiterates upon the order of execution Swidex will take.

SWIDEX TOKENS (SWDX)

Swidex tokens is built on Ethereum Blockchain, ERC-20 with a total supply of
5,000,000,000 (5bn) SWDX. SWDX is the native token of Swidex, serve as fuel for the exchange. It enables liquidity and powers open, fast and secured transactions between users of Swidex.

SWIDEX PUBLIC SALES AND DISTRIBUTION TOKEN DETAILS

Token Name/Swidex Ticker: SWDX

TEAM AND ADVISORS

IEO

Swidex is holding an IEO on the VINDAX exchange. For those of you who want to participate, More info about IEO event can be found at:

https://vindax.com/faq/swidex-swdx-public-sale-on-vindax-launchpad-on-july-8-2019.html

CONCLUSION

Swidex is one of the project concepts that will run on Ethereum protocol technology, which as we know Ethereum is very popular and widely supported by several large companies because it has a very good system. In addition, the concept of a swidex project is so good for building robust exchange decentralization, as well as a convincing roadmap and especially their SWDX tokens. So, I recommend this project to be used in exchange transactions later.

For more information you can see social media and official sites from swidex :

Website: http://swidex.trade
Whitepaper: http://swidex.trade/swidex.pdf
Facebook: https://www.facebook.com/Swiftlanceoutsourcingplatform
Twitter: https://twitter.com/swiftlance1
Medium: https://medium.com/@swiftlance.org
Discord: https://discord.gg/UPqAT78
Telegram: https://t.me/Swidex